Revfin Secures $14 Million in Series B Funding Round Led by Omidyar Network

Digital lending platform Revfin announced the successful conclusion of its Series B funding round, securing $14 million (115 crore). Omidyar Network spearheaded the round with a $5 million investment, joined by the Asian Development Bank (ADB), Companion Capital Limited, and existing investors Green Frontiers Capital and LC Nueva. This funding brings Revfin’s total capital raised through debt and equity to 625 Crore. Noteworthy angel investors such as Dhiiraj Jain (Redcliffe Labs), Anuraag Jaipuria, Ruchi Rans Jaipuria, Rishi Kajaria, Let’s Venture Angel Fund, Harash Jain, and others supported Revfin in this journey.

This recent capital infusion represents Revfin’s second significant investment in the last 12 months. The funds will play a pivotal role in advancing Revfin’s steadfast commitment to fortify the electric vehicle (EV) ecosystem, providing financing for electric two-wheelers (e2Ws), electric three-wheelers (e3Ws), and all other types of electric vehicles. Additionally, the funding will support various components of the EV ecosystem, including charging stations and batteries.

Sameer Aggarwal, Founder and CEO, stated, “I am delighted to announce that, with the backing of Omidyar Network and our esteemed investors, we have successfully raised $14 million. This funding will empower us to further enhance the EV ecosystem and contribute to the growth of all types of electric vehicles in India. Our unwavering commitment to revolutionize digital lending remains strong, and we look forward to the opportunities ahead.”

Founded in 2018, Revfin is an advanced digital lending platform dedicated to revolutionizing sustainable mobility and enhancing financial inclusion in India. Utilizing innovative techniques and strategic partnerships, Revfin makes financing accessible through non-traditional data such as biometrics, psychometrics, and gamification. Revfin  has already invested in over 34,921 electric vehicles and aims to finance 2 million electric vehicles in the next five years.